PT Barito Renewables Energy (BREN) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached $150.5 million, up 3.5% year-over-year, with profit for the period at $42.4 million, a 14% increase from Q1 2024.

• Total assets as of March 31, 2025, were $3.80 billion, with equity at $778.6 million and liabilities at $3.03 billion.

• The group completed several acquisitions in the renewable energy sector, including wind and geothermal assets, expanding its operational footprint.

Financial highlights

• Operating income before tax for Q1 2025 was $77.2 million, up from $72.7 million in Q1 2024.

• Net profit attributable to owners was $34.2 million, with basic and diluted EPS of $0.00026, up from $0.00022 in Q1 2024.

• Cash and cash equivalents increased to $201.2 million from $162.7 million at year-end 2024.

• Net cash from operating activities was $62.1 million, while net cash used in investing activities was $60.6 million.

• Total borrowings stood at $2.09 billion, with gearing ratio at 69%.

Outlook and guidance

• Management continues to focus on expanding renewable energy capacity and optimizing operational efficiency.

• Ongoing capital projects include geothermal and wind power expansions, with significant investments in construction in progress.

• The group expects continued stable revenue from long-term contracts with PLN and further growth from recent acquisitions.